Call reports 2024
SOMERSET TRUST COMPANY — 2024
What SOMERSET TRUST COMPANY reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 2,255,874,000 | 2,297,347,000 | 2,357,335,000 | 2,315,834,000 |
| Total loans | 1,495,341,000 | 1,488,509,000 | 1,519,106,000 | 1,542,740,000 |
| Allowance for loan losses | 18,586,000 | 18,240,000 | 18,216,000 | 18,779,000 |
| Securities available for sale | 584,371,000 | 600,149,000 | 610,819,000 | 598,652,000 |
| Securities held to maturity | 4,930,000 | 4,933,000 | 4,945,000 | 4,670,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 1,844,826,000 | 1,869,636,000 | 1,904,029,000 | 1,881,461,000 |
| Interest-bearing deposits | 1,413,434,000 | 1,455,795,000 | 1,459,829,000 | 1,480,233,000 |
| Noninterest-bearing deposits | 431,392,000 | 413,841,000 | 444,200,000 | 401,228,000 |
| Equity capital | 140,606,000 | 142,483,000 | 159,890,000 | 151,219,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 29,171,000 | 59,528,000 | 91,321,000 | 122,768,000 |
| Interest expense | 9,494,000 | 20,038,000 | 31,414,000 | 42,691,000 |
| Net interest income | 19,677,000 | 39,490,000 | 59,907,000 | 80,077,000 |
| Noninterest income | 4,473,000 | 9,106,000 | 14,403,000 | 19,387,000 |
| Noninterest expense | 17,508,000 | 35,021,000 | 51,871,000 | 69,395,000 |
| Provision for loan losses | 0 | 199,000 | 487,000 | 643,000 |
| Pretax income | 6,509,000 | 13,439,000 | 21,978,000 | 29,519,000 |
| Income tax | 1,269,000 | 2,399,000 | 3,896,000 | 4,992,000 |
| Net income | 5,240,000 | 11,040,000 | 18,082,000 | 24,527,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 179,174,000 | 183,939,000 | 189,948,000 | 196,514,000 |
| Total capital | 199,411,000 | 203,634,000 | 209,655,000 | 216,717,000 |
| Risk-weighted assets | 1,680,837,000 | 1,668,901,000 | 1,704,354,000 | 1,720,981,000 |